George Osborne hits the self employed

Whenever a Chancellor gives his Autumn Statement or Budget Speech I always try and highlight the measures which affect small businesses and the self employed Sometimes it's difficult because the gifts are usually for big business or the extremely wealthy. Yesterday, however George Osborne made an announcement which is going to hit the self employed very, very hard.

Hidden away in all the talk of the digital revolution was the fact that the self employed will have to file tax returns every quarter instead of once a year as at present.
This will add massively to your work and your accountant's and will undoubtedly increase accountancy fees. Preparing four sets of quarterly accounts instead of one set covering 12 months isn't the same as dividing the annual work by four. Work which would only be done annually will have to be repeated every three months.
Over the coming weeks you'll see more and more complaints about yet another burden being imposed on small and microbusinesses. The government has promised to consult on these new rules but I believe they're here to stay.

New rules mean we'll all have to change the way we do things - both the self employed and their accountants.

P.S. I'm trying to be positive. In my opinion this is yet another example of yet another politician not understanding what a small business. It isn't a smaller version of a big business. We don't have legions of admin staff who can fill in forms until the cows come home!
P.P.S. Over the next few days I'll let you have my ideas of ways to minimise the burdens of these new rules.

Days to January 31st